Golf betting: each way terms, dead heats and outright markets

Key facts

An each way bet is two bets of equal size: one to win and one to place. Place terms (how many places, what fraction of the odds) are set by the bookmaker for each event.
With example terms of a quarter the odds for the top five, $10 each way at $41 on a player who finishes third returns $110 for a $20 outlay, in our calculation.
Under the TAB's Victorian rules, play-off holes decide the winner, but ties for places are settled by the dead heat rule.
If a 72-hole tournament is abandoned before 36 holes, bets on the outcome are refunded under the same rules; from 36 holes, an official result stands.
The 2026 Crown Australian Open is at Kingston Heath from Thursday 3 to Sunday 6 December.

Golf betting in short

Golf betting is fixed odds betting on a golf tournament or a round with a licensed Australian bookmaker. It is closer to racing than to footy: a field of dozens or more, long prices, place betting, and frequent ties. The prices are long because the field is big, and the margin is spread across every name. Before anything else, understand two things: each way terms and dead heats. Settlement rules quoted here are from the TAB's published Victorian sports betting rules; check your own bookmaker's.

Golf betting markets

Market	What you are betting on	Settlement point
Outright winner	The tournament champion	Play-off holes count
Each way	Win plus a place in the top positions	Place terms set by the bookmaker
Top 5, top 10, top 20	A player to finish in that range	Ties settled by the dead heat rule
Head to head (tournament)	One player to finish ahead of another	Check the rule for a missed cut or withdrawal
2 ball, 3 ball (round)	The best score in a group over 18 holes	Void unless every player completes 18 holes
Round leader, first round leader	Leader after a set round	Ties settled by the dead heat rule
Futures	A major or season title	Settled when decided

Outright prices: big fields, big totals

A golf outright market lists every player in the field. Add the implied chances of just the five shortest players in an example market, at $7, $9, $11, $13 and $15, and you already have 48.85%. Add the other names and the full market comes to well over 100%, because each price includes a slice of the margin. Use the implied probability calculator on any list of prices to see the total.

Golf each way betting, worked through

Golf each way betting is two bets of equal size. $10 each way costs $20: $10 to win and $10 to place. Place terms tell you how many places pay and what fraction of the win odds the place part pays. Bookmakers set these per tournament, so check them on the market. The examples below use example terms of a quarter the odds for the top five, not any bookmaker's actual offer.

At $41 with a quarter the odds, the place price is 1 + (41 - 1) / 4 = $11.

$10 each way at $41 (example terms 1/4, top 5)	Win part	Place part	Total return	Profit on $20
Wins the tournament	$410	$110	$520	$500
Finishes 3rd outright	$0	$110	$110	$90
Finishes 8th	$0	$0	$0	-$20

The each way calculator runs these numbers for any price and terms.

Dead heats: where golf bets get cut

Ties for a paying place are part of golf. A player who finishes tied for fifth with two others has not finished fifth outright, and there is only one paying place left for three players. Under the TAB's Victorian rules, place ties are paid by multiplying the place part of the ticket by the number of placings left and dividing by the number of players tied for them.

Your player's finish (top 5 paying)	Places left	Players tied	Place part return on $10 at $11
3rd outright	1	1	$110.00
Tied 4th with 3 others (4 players)	2 (4th and 5th)	4	$55.00
Tied 5th with 2 others (3 players)	1 (5th)	3	$36.67

In our calculation, a three-way tie for the last place turns a $90 profit into a $16.67 profit on a $20 each way outlay. Top 10 and top 20 bets work the same way: $10 at $4.50 to finish top 10, tied for ninth with three others, returns 45 x 2 / 4 = $22.50 instead of $45.

Our dead heat calculator does this for any number of ties, and our guide to dead heat rules explains why bookmakers use the formula.

Ties for the win

Winner bets are a different story. Under the TAB's rules, any play-off holes count in deciding the winner of a tournament, so a three-way tie after 72 holes still produces one winner for outright bets. But the dead heat rule applies to place bets where players are tied after the set number of holes. That can mean your each way bet's place part is cut while the win part simply loses.

When a tournament is cut short

Rain, wind and lightning can stop play. Under the TAB's Victorian rules:

Tournament scheduled for	Holes completed when abandoned	Outcome bets
72 holes	Fewer than 36	Void and refunded
72 holes	36 or more, official result declared	Stand on the official result
90 holes	Fewer than 54	Void and refunded
Fewer than 72 holes	Any, official result declared	Stand on the official result

Bets placed after the last point of play in an abandoned event are void. If play is suspended to be finished later, bets are held, and refunded if no result is declared within a month of the original start date.

Head to head and group betting

Golf head to head and 2 or 3 ball markets let you bet on one player against another, which takes the rest of the field out of the picture. Under the TAB's rules, group bets over 18 holes go to the lowest score, and are void unless every player in the group completes the 18 holes. For tournament-long group bets, a player who completes more holes beats one who withdraws, and ties are settled by the dead heat rule.

Golf in Australia: the Australian Open and the law

Golf Australia has set the 2026 Crown Australian Open for Thursday 3 to Sunday 6 December 2026 at Kingston Heath Golf Club. Outright and each way markets for events like it are futures bets until the first tee shot.

Golf betting follows the same law as every other sport here. Use a bookmaker licensed in an Australian state or territory, and bet online only before play starts: ACMA says in-play betting on sports matches is prohibited with limited exceptions, mainly bets placed wholly by phone. A four-day tournament does not give you a second betting window online. Licensed providers cannot take credit cards or crypto.

Pundit tip: in golf, the place terms matter as much as the price. A quarter the odds for the top five and a fifth the odds for the top eight are different bets. Compare the place price you are actually getting.

Motorsport has its own each way and head to head rules; see our F1 betting guide. For prices from scratch, read how to read odds, and for every other bet type our bet types guide.

Frequently asked questions

How does each way betting work in golf?

You place two equal bets: one on the player to win and one on the player to finish in the places. If the player wins, both bets pay. If the player places without winning, only the place bet pays, at a fraction of the win odds set by the bookmaker's place terms.

What is a dead heat in golf betting?

It is a tie for a paying position. If three players tie for fifth and only one place is left, the place part of your bet is paid on one third of the stake. Under the TAB's rules, the payout is multiplied by the places left and divided by the number of players tied.

Does a play-off count in golf betting?

For the winner, yes. Under the TAB's Victorian sports rules, play-off holes count in deciding the winner of a tournament. For place bets, ties after the set number of holes are settled with the dead heat rule.

What happens if a golf tournament is shortened by weather?

Under the TAB's rules, a 72-hole event stopped before 36 holes are completed is void for outcome bets. If 36 or more holes are played and the governing body declares an official result, bets stand on that result.

Are 2 ball and 3 ball golf bets refunded if a player withdraws?

Under the TAB's rules, 2 and 3 ball group bets over 18 holes are void unless all players in the group complete the 18 holes.